LONDON Jan 4 Growth in the world's private
sector businesses hit a nine-month high at the end of last year,
supported by a buoyant service sector, a report showed on
The Global Total Output index, produced by JPMorgan with
research and supply management organisations, rose to 53.7 in
December from November's 53.6, its highest reading since March.
"Growth of the global economy peaked at a nine-month high in
December, led by a solid increase in service sector output and
signs of a muted recovery in manufacturing production," said
David Hensley, director of global economics coordination at
"The global economy is therefore entering the new year on a
positive footing and, with trends in demand and other forward
looking indicators still supportive, should maintain this
momentum in the coming months."
New orders came in at their fastest pace for nine months
with the sub index rising to 52.9 from November's 52.2 and firms
increased their workforces at the fastest pace since March.
The Global Services index held steady last month at
November's 54.8, comfortably above the 50 mark that divides
growth from contraction.
Business activity in the U.S. perked up in the final month
of 2012, data showed earlier on Friday, while hopes grew that
Europe may be through the worst of its economic slump.
Britain's services sector, however, contracted for the first
time in two years, suggesting the broader economy probably
shrank as well in the final three months of 2012.
Global manufacturing activity expanded last month for the
first time since May, supported by solid output gains in China,
the United States and Britain, data on Wednesday showed.
The index combines survey data from countries including the
United States, Japan, Germany, France, Britain, China and